Generate Life Sciences to launch $130 million term loan on Friday

By Sara Rosenberg

New York, May 6 – Generate Life Sciences is scheduled to hold a lender call at 11:30 a.m. ET on Friday to launch a fungible $130 million incremental covenant-lite first-lien term loan due Aug. 6, 2025, according to a market source.

Golub Capital Markets LLC is the lead arranger on the deal.

Pricing on the incremental term loan is Libor plus 400 basis points with a 0% Libor floor, in line with existing term loan pricing, the source said.

Amortization on the incremental term loan is 1% per annum and there is no call protection.

Proceeds will be used to fund an acquisition.

Generate Life Sciences, formerly known as California Cryobank, is a Los Angeles-based life sciences company helping to grow and protect families through reproductive, newborn stem cell, genetic screening, medical device, and health care technology services.

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